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by Stay_frostJebel
2572 days ago
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Ultimately, this is a problem of semantics. Physics describes one objective reality that interacts with billions of subjective realities. Economics describes how billions of subjective realities interact to form one objective reality. The article has a few places where the physicist attempts to ascribe an intrinsic value to an item (say dessert types) independent of the supply and demand curves for that item. The whole concept of a demand curve is that everyone has their own value that they give to an item. The fact that some people do NOT value some particular lifestyle improvements does not affect econ in the slightest. |
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